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Block Inc. may cut up to 10% of its workforce amid profit shortfalls and slowing growth, per Bloomberg sources.
Block Inc., led by Jack Dorsey, is reportedly considering up to a 10% workforce reduction as part of its annual performance reviews, according to Bloomberg, citing sources.
The move follows missed third-quarter profit expectations due to economic uncertainty and increased competition, with Square segment growth slowing to 9%.
The company, which handles bitcoin transactions and operates Cash App and Square, has not confirmed the report.
Its fourth-quarter earnings are set for release on February 26, 2026.
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Block Inc. puede recortar hasta el 10% de su fuerza laboral en medio de déficits de ganancias y la desaceleración del crecimiento, según fuentes de Bloomberg.